NTPC to exit the NTPC-BHEL JV

NTPC Limited has decided to exit its joint venture (JV) with Bharat Heavy Electricals Limited. NTPC-BHEL Power Projects Private Limited was set up in December 2007 as a 50:50 JV for manufacturing power equipment and the manufacturing facility commenced operations in Andhra Pradesh in 2016. The JV had a weak order book and requires fresh orders for its revival. Through its exit, NTPC plans to concentrate on setting up and operating power plants, instead of manufacturing equipment. In a separate development, NTPC has invited tariff-based bids to procure 2,000 MW of renewable energy (solar and wind) to be bundled with power from its non-pithead thermal power plants (TPPs).